Greece’s State Budget for 2013 was tabled in Parliament, by the government on October 31 and is expected to be approved by November 11. The budget foresees a 4.5% recession in 2013, a fiscal deficit of 5.2% of GDP and a primary budget surplus of 0.4% of GDP. The approximately € 9.5 billion - 4.5% of GDP- worth of austerity measures that the government plans to implement next year are reflected on the revised 2013 Budget.

 It now forecasts a deeper recession in the economy for 2013 from a previous forecast of 3.8% that was included in an earlier draft presented on October 1. In addition, unemployment is projected to rise to 22.8% from 22.4% this year, while the debt is expected to reach 189.1 % of GDP from 175.6 %.  

Meanwhile, a bill which paves the way for the privatisation of a number of public utilities and ports, by eliminating the requirement for the state’s minimum participation in them, passed in Parliament on October 31.